E-commerce major Snapdeal on Wednesday re-launched Shopo, a mobile-based open marketplace which will allow small businesses to list their products without paying any commission. Snapdeal had acquired Shopo in mid-2013 for an undisclosed amount.
Shopo aims to attract one million buyers online in the next one year.
Individuals selling anything from cakes to jewellery can click photo of their products and list on Shopo for sale. The application also provides a chat facility for customers to interact with shop owners. A seller and a buyer can choose a mutually convenient mode of transaction as well as delivery. It is a zero commission, zero fees and single-step listing platform.
The platform is currently available on iOS and Android.
“Last year we had to turn away more than 450,000 sellers since they were not eligible to do business in our system… that set us thinking and Shoppo is an outcome of that need, ” Snapdeal CEO and co-founder Kunal Bahl said.
The opportunity is in fresh, regularly-bought goods and those that are used infrequently. The former is ruled by Amazon, Snapdeal and Flipkart, and the later by Quikr and OLX. Shopo aims to tap on the small and mid-sized businesses (SMB) segment, which contributes over 13% of India’s GDP, Bahl said.
Snapdeal has 12 million products that are sold on its existing platform and 70-75% transactions are mobile based, Bahl said. It has 150,000 sellers in 500 cities.
Snapdeal plans to tap the booming e-commerce opportunity in India. Bahl, however, refused to elaborate on the revenue model.